The World Bank has relaxed its access to loan policy in Kenya

Towards solving the problem of access to credit in Kenya, the World Bank said it will fund the creation of an electronic registry that will allow the use of household goods, live animals and office equipment as collateral for commercial loans.

Lack of a central registry meant ownership of collateral could easily be transferred without the bank’s knowledge, leaving it exposed in case of a default and consequently making the registry answer to the difficulties facing potential borrowers who lack assets to back up their credit applications.

Full article: Ventures Africa




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